44AB

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krishna (Querist)
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27 April 2009 i am a courier agent, my total receipts for the year 2008-2009 is rs.48,00,000 where as my commission on that is only Rs.7,00,000/-.

all my collections are paid to the courier company after deducting my commission.
Whether i am liable to get my accounts audited under tax audit 44AB?

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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27 April 2009 If you are doing business as an pure agent of coureer compoany and in return getting commission only.

Then in this case there is no need of Audit.

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krishna

krishna (Querist)
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27 April 2009 i am billing for my client which is normally above the specified rates from the courier company.Inturn i get bills from the courier company at their rates.

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CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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27 April 2009 If the bills are issued to final customers at your firm name then section 44AB apply and if the name of the main courier company is used then no need for tax audit.